Roku, Inc. (NASDAQ:ROKU) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its holdings in Roku, Inc. (NASDAQ:ROKU) by 19.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,024 shares of the company’s stock after acquiring an additional 1,126 shares during the period. M&T Bank Corp’s holdings in Roku were worth $525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Holocene Advisors LP purchased a new stake in Roku in the third quarter valued at $129,015,000. Westfield Capital Management Co. LP boosted its stake in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after buying an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP raised its position in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after acquiring an additional 445,777 shares in the last quarter. Finally, FMR LLC lifted its holdings in Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after acquiring an additional 244,793 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $387,544. The trade was a 83.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 65,555 shares of the company’s stock, valued at $4,916,625. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,096 shares of company stock valued at $5,661,223. 13.98% of the stock is currently owned by insiders.

Roku Price Performance

ROKU opened at $83.39 on Wednesday. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of -69.74 and a beta of 2.06. The company’s 50 day simple moving average is $75.14 and its two-hundred day simple moving average is $67.22. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $99.80.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.33) earnings per share. On average, equities analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on ROKU. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 1st. Jefferies Financial Group dropped their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Piper Sandler upped their price objective on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Thursday, September 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $85.00) on shares of Roku in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.